The directors present the strategic report and financial statements for the year ended 31 March 2026.

The principal activity of the company is to provide nonwoven fabrics which are smarter, and technically superior fabrics to other fabrics available in the market. The business specialises in complex problem solving by developing, modifying, and refining bespoke products for diverse applications.

The Company’s products serve applications in the industrial market including acoustics, filtration, and electrical applications.

Similarly, the Company’s products for the beverages and food packaging markets serve diverse requirements, from repellent, absorbent and high to low porosity, to produce extraordinary pouch product experiences.

The Modern Oral market, which provides a reduced risk product alternative, is continuing to see significant growth.

The results set out in the profit and loss account show that the turnover for the year ended 31 March 2026 was £49.3m (2025: £39.6m).

Operating profit has increased by 44% to £15.4m for the year ended 31 March 2026 (2025: £10.6m), reflecting the increase in turnover. The business has continued to invest to facilitate growth in new markets, particularly in people and research & development, which is demonstrated by the growth in turnover.

Capital investment continues on another new manufacturing line, and general equipment and factory improvements.

This is undertaken at Nonwovenn Group level to minimise risk for each individual company.

Given the nature of the business the company’s directors believe key performance indicators are important. The company uses several indicators to monitor and improve the development, performance, and position of the business.

Some non-financial indicators are customer on time delivery, customer complaints and accident frequency rate.

The strength of the business combined with the resilience of our teams have enabled us to deliver a strong performance during challenging times.

The business has robust systems in place and continues to be flexible by working closely with internal and external stakeholders to ensure that the business is able to react to any changes.

Our enterprise focus stays un-wavered on perpetually maximising the sustainable benefits for people and the planet while never letting profit keep us from making a positive sustainable impact.

Through our strategic double materiality approach and several ESG programmes, which are recognised to be the best in class by our business partners, we are constantly lowering our impact on the environment. All our electricity comes from 100% renewable resources.

We have also introduced an industry-leading unified waste management programme which has allowed us to achieve zero waste to landfill from December 2022.

We do so in active collaboration with the wider industry, customers, suppliers, and all major stakeholders through sustainable innovation to keep enabling the Circular Economy.

This statement describes how the Directors of BFF Nonwovens Limited have had regard to the matters set out in Section 172(1) of the Companies Act 2006 during the year ended 31 March 2026 when performing their duty to promote the success of the Company for the benefit of its members as a whole.

The Board recognises that the long-term success of the business depends upon maintaining strong relationships with employees, customers, suppliers, shareholders, local communities and other stakeholders. The Directors seek to balance the interests of these groups while making decisions that support the Company's long-term sustainability, operational performance and financial strength.

Employees

The Board recognises that employee engagement, wellbeing, capability and safety are critical to the success of the business. Throughout the year the Directors monitored employee turnover, recruitment activity, training, health and safety performance and employee relations matters through regular management reporting.

The Board maintained a focus on providing a safe working environment, developing employee skills and ensuring open communication regarding business performance and strategic developments. When considering operational changes, the Directors took account of the potential impact on employees and sought to engage with affected individuals in an open and transparent manner.

Customers

The Directors recognise that long-term customer relationships are fundamental to the Company's continued success. Regular reviews of customer service, quality performance, delivery metrics and commercial performance were undertaken throughout the year.

The Board considered the impact of strategic decisions on customer service levels, product quality, supply continuity and the Company's reputation as a trusted manufacturing partner. Continued investment in manufacturing capability and operational improvement initiatives was supported to enhance service and reliability for customers.

Suppliers and Business Partners

The Company depends upon a reliable and resilient supply chain. Throughout the year the Directors considered supplier performance, supply chain risks, raw material availability and inflationary pressures affecting the business.

The Board seeks to maintain collaborative and mutually beneficial relationships with suppliers and service providers and recognises the importance of ethical and responsible procurement practices.

Community and Environment

The Directors recognise the impact that the Company's operations can have on the environment and surrounding communities.

During the year the business continued to monitor energy consumption, waste generation, environmental compliance and carbon reduction initiatives. Environmental considerations formed part of decision-making regarding operational improvements, capital expenditure and manufacturing processes.

The Company remains committed to reducing waste, improving efficiency and operating its sites responsibly and sustainably.

Business Conduct and Governance

The Board is committed to maintaining high standards of business conduct and corporate governance. The Company operates under a range of policies and procedures covering health and safety, anti-bribery, fraud prevention, whistleblowing, information security, anti-tax evasion and environmental compliance.

The Directors believe that maintaining high ethical standards supports the long-term success of the business and protects the interests of all stakeholders.

Shareholders

The Directors maintain regular communication with the Company's shareholders and consider shareholder interests when determining strategy, approving significant investments and reviewing financial performance.

The Board's objective is to create sustainable long-term value through profitable growth, strong governance, operational excellence and effective risk management.

Principal Decisions During the Year

The Directors consider the following to be examples of significant matters considered during the year and how stakeholder interests were taken into account.

Investment in Manufacturing Capability

The Directors continued to support investment in manufacturing equipment, infrastructure and operational improvement projects.

When evaluating investment opportunities, the Board considered:

• Productivity improvements.

• Quality enhancement.

• Health and safety benefits.

• Energy efficiency improvements.

• Customer service benefits.

• Long-term returns for shareholders.

The Directors concluded that such investments would improve operational resilience and support future growth.

Sustainability and Energy Reduction Initiatives

The Board reviewed opportunities to reduce energy consumption and improve environmental performance across the business.

In assessing these initiatives, the Directors considered:

• Environmental impacts.

• Financial returns.

• Employee engagement.

• Customer expectations regarding sustainability.

• Long-term energy security and cost efficiency.

The Board believes that responsible environmental management supports both stakeholder interests and the long-term success of the Company.

On behalf of the board

The directors present their annual report and financial statements for the year ended 31 March 2026.

The results for the year are set out on page 12.

During the year interim dividends were paid amounting to £15,000,000 (2025: £8,000,000) to the company's shareholders.

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

In accordance with the company's articles, a resolution proposing that Pierce C A Limited be reappointed as auditor of the company will be put at a General Meeting.

The Companies Act 2006 (Strategic Report and Directors’ Report) Regulation 2018 requires BFF Nonwovens Limited to disclose annual UK energy consumption and Greenhouse Gas (GHG) emissions from SECR regulated sources. Energy and GHG emissions have been independently calculated by Sustainable Energy First for the reporting period to 31 March 2026.

Reported energy and GHG emissions data is compliant with SECR requirements and has been calculated in accordance with the GHG Protocol and SECR guidelines. The SECR Report includes additional emissions that are reported voluntarily, this is considered to be best practice.

The reported carbon emissions have been calculated following the guidance in the UK Government's Environmental Reporting Guidelines, 2019, and the methodology outlined in The GHG Protocol Corporate Accounting and Reporting Standard (revised edition). Carbon Emission factors have been obtained from the UK Government's GHG Conversion Factors for Company Reporting.

An 'operational' control methodology has been adopted to outline the scope of carbon emissions reporting for BFF Nonwovens Limited. Operational control refers to the ability of an organisation to direct the activities of a facility or operation. In the context of greenhouse gas (GHG) reporting, a company is considered to have operational control over a facility, if it has the authority to introduce and implement operating policies at that facility, regardless of ownership. This means the organisation is responsible for the GHG emissions from the 'operations it controls'.

The chosen intensity measurement ratio is total gross emissions in metric tonnes CO2e per tonne of product produced, the recommended ratio for the sector.

Energy Consumption

During the year ended 31 March 2026, BFF Nonwovens Limited reported location-based greenhouse gas emissions of 3,052.5 tCO₂e, a reduction of 3% compared with the previous year. Production volumes were lower than in the prior year and, consequently, the carbon intensity ratio increased from 1.50 to 1.58 tCO₂e per tonne of production.

The increase in carbon intensity was primarily driven by changes in product mix, with a greater proportion of production comprising thinner, technically advanced products used in harm-reduction and life-critical applications. These products generally require higher energy input per tonne produced. As a result, while total greenhouse gas emissions decreased during the year, emissions per tonne of output increased.

The company expects this effect to moderate as production volumes and product mix stabilise and continues to pursue energy-efficiency improvements across its operations.

Energy efficiency initiatives

BFF Nonwovens Limited is committed to continually improving energy efficiency and reducing environmental impact while operating as a responsible and sustainable business.

Over the past year, we have undertaken several initiatives that will result in carbon emissions reductions for the company:

•    Installation of LED lighting across manufacturing and warehouse areas.

•    Optimisation of compressed air systems and reduction of air leaks.

•    Replacement or upgrade of manufacturing equipment to improve energy efficiency.

•    Review and optimisation of operating schedules for production equipment.

•    Employee engagement and awareness programmes focused on energy conservation.

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

• select suitable accounting policies and then apply them consistently;

• make judgements and accounting estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

We have audited the financial statements of BFF Nonwovens Limited (the 'company') for the year ended 31 March 2026 which comprise the profit and loss account, the balance sheet, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 31 March 2026 and of its profit for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

• the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

• adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

• the financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of directors' remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit.

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

In identifying and assessing risks of material misstatements in respect of irregularities (including fraud) we considered the following:

• The nature of the industry, the company’s control environment, the significant laws and regulations relevant to the company, and the company’s policies on detection of fraud;

• Results of our enquiries of management, those charged with governance, and of staff in compliance roles;

• Our review of disclosures included in the financial statements; and

• Engagement team discussions in respect of any potential indicators of non-compliance or fraud.

We have also performed specific procedures to consider the risk of management override and of fraud arising in significant transactions outside the normal course of business.

We did not identify a material risk of non-compliance with laws and regulations or of fraud.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's member in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's member those matters we are required to state to the member in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's member, for our audit work, for this report, or for the opinions we have formed.

The profit and loss account has been prepared on the basis that all operations are continuing operations.

BFF Nonwovens Limited is a private company limited by shares incorporated in England and Wales. The registered office is BFF Business Park, Bath Road, Bridgwater, Somerset, TA6 4NZ.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

• Section 7 'Statement of Cash Flows' - Presentation of a statement of cash flow and related notes and disclosures;

• Section 33 'Related Party Disclosures' - Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of CorpAcq Limited. These consolidated financial statements are available from its registered office, CorpAcq House, 1 Goose Green, Altrincham, Cheshire, WA14 1DW.

The company finances its trading operations through a group revolving bank credit facility.true

The directors are not aware of any reasons why these facilities will not be maintained.

As a result the directors have continued to adopt the going concern basis in preparing the financial statements.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Research expenditure is written off to the profit and loss account in the year in which it is incurred. Development expenditure is written off in the same way unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period during which the company is expected to benefit.                        

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Fixed asset investments are stated at cost less provision for diminution in value.

Stocks are valued at the lower of cost and net realisable value after making due allowances for slow moving and obsolete items.

Cost represents all expenditure incurred in bringing stock to its present condition and location at the accounting date.

Net realisable value is based on the estimated selling prices less further costs expected to be incurred to completion and disposal.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Research expenditure is written off to the profit and loss account in the year in which it is incurred. Development expenditure is written off in the same way unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period during which the company is expected to benefit.

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

An analysis of the company's turnover is as follows:

The exceptional expenditure recognised in the current year and prior year relates to consultancy fees incurred in connection with specific business requirements and strategic initiatives outside the ordinary course of the company's day-to-day operations.

The directors consider these costs to be exceptional by virtue of their nature and non-recurring occurrence. Accordingly, they have been disclosed separately to provide a better understanding of the underlying trading performance of the company.

The total costs disclosed above have been charged in arriving at the operating profit for the current year and the prior year.

The average monthly number of persons (including directors) employed by the company during the year was:

Their aggregate remuneration comprised:

Investment income includes the following:

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:

The deferred tax liability set out above relates to accelerated capital allowances which are expected to reverse within five years and and unrelieved pension contributions and provisions that are expected to mature or reverse within the same period.

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

On 21 December 2021 the company signed a lease for a term of twenty years for the premises at BFF Business Park, Bath Road, Bridgwater, Somerset. The total annual rent for the property is £870,000 per annum.

Amounts contracted for but not provided in the financial statements:

Prior to the balance sheet date, the company and its fellow immediate group undertakings, Technical Materials Group Holdings Limited, Technical Materials Group Limited, Nonwovenn Ltd, Lantor (UK) Limited and Square Foot Concepts Limited, provided a composite guarantee and debenture to CorpAcq Limited to secure the future borrowings of that company.

On 8 June 2026, CorpAcq Limited and its parent company, CorAcq Midco Limited, entered into a financing agreement providing credit facilities of £860,000,000 to the 'CorpAcq group'.

During the year the company entered into the following transactions with related parties:

The following amounts were outstanding at the reporting end date:

The company is a wholly-owned subsidiary of Nonwovenn Ltd, a company registered in England and Wales.

Nonwovenn Ltd was under the control of the directors of this company up to 17 December 2025. On 17 December 2025, Nonwovenn Ltd was acquired by Technical Materials Group Limited (previously AG BIDCO 1 Limited), a company registered in England and Wales.

The ultimate parent company from 17 December 2025 is TDR Capital Nominees 2021 Limited on behalf of TDR Capital V LP, managed by TDR Capital LLP.

The company's financial statements are consolidated into the financial statements of CorpAcq Limited, which represents the smallest group for which consolidated accounts are prepared. These accounts can be obtained from Companies House.

The company's financial statements are also consolidated into the financial statement of CorpAcq Group Limited, which represents the largest group for which consolidated accounts are prepared. These accounts can be obtained from Companies House or at CorpAcq House, 1 Goose Green, Altrincham, Cheshire, WA14 1DW.